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DLF

Q2 FY27

DLF Q2 FY27: Revenue ₹2,014 Cr, PAT ₹752 Cr

Q2 FY27 investor presentation: what the company reported on revenue, margins and projects.

Price₹671

Market cap₹1.7L Cr

P/E38.6

Updated16 Oct 2026

Read5 min read

Based on DLF's Q2 FY27 investor presentation. The company has not published an earnings-call transcript for this quarter, so figures here are what the investor presentation reports, not management guidance.

The short version

Q2FY27 Revenue from operations (DLF Limited consolidated): Rs 2,014 crore, up 11% YoY (Page 30) - Rental Income (DLF Limited consolidated): Rs 1,482 crore, 9% YoY growth (Page 5) - Sales Bookings: Rs EBITDA for Q2FY27: Rs 1,537 crore, up 9% YoY (Page 30) - Operating Margin (EBITDA margin) can be approximated from total revenue Rs 2,014 crore, giving about 76% EBITDA margin (1,537/2,014); explici

From DLF's Q2 FY27 earnings-call transcript · updated 16 Oct 2026.

Revenue & Sales Performance

- Q2FY27 Revenue from operations (DLF Limited consolidated): Rs 2,014 crore, up 11% YoY (Page 30) - Rental Income (DLF Limited consolidated): Rs 1,482 crore, 9% YoY growth (Page 5) - Sales Bookings: Rs 3,800 crore (Page 5) - DCCDL Revenue from operations: Rs 1,261 crore, down 23% YoY (Page 27) - Sales Collection in Q2FY27: Rs 2,622 crore, stable compared to Rs 2,545 crore in Q2FY26 (Page 26) - Operating Cash Flow after Interest & Tax (DLF Limited consolidated): Rs 1,158 crore, up from Rs 800 crore in Q2FY26 (Page 31) Explicit outlook: - Medium-term growth target to reach ~ Rs 10,000 crore rental income supported by pipeline expansion and high occupancy (~96%) (Page 22)

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Profitability & Margins

EBITDA for Q2FY27: Rs 1,537 crore, up 9% YoY (Page 30)
Operating Margin (EBITDA margin) can be approximated from total revenue Rs 2,014 crore, giving about 76% EBITDA margin (1,537/2,014); explicit margin % not stated on this page
PAT (before exceptional items) for Q2FY27: Rs 752 crore, up 17% YoY (Page 30)
DCCDL EBITDA for Q2FY27: Rs 1,060 crore, up 18% YoY; EBITDA margin 46% (Page 27)

- DCCDL PAT (after JV profits, before exceptional items): Rs 1,301 crore, up 31% YoY (Page 27) - No explicit overall margin outlook stated in the presentation for EBITDA or PAT; focus is on healthy cash flows, margin accretion, and growth (Page 18, 8) Summary: EBITDA grew by 9%, PAT by 17% YoY (DLF consolidated); DCCDL shows robust EBITDA margin of 46% and PAT growth of 31%, but no specific forward margin guidance is provided.

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Capital Expenditure Plans

The presentation details a robust launch pipeline in the development business:
Medium-term planned launches of ~24 msf area, with sales potential of ~Rs 58,230 crore (Page 12).
Launched projects till H1FY27 cover 14 msf with Rs 56,270 crore sales potential.
Capex outflows in Q2FY27 amounted to Rs 816 crore (Page 31).
New product launches are expected to contribute ~50% of the medium-term pipeline within the first 2.5 years (Page 12).
Development projects include under-execution and pipeline projects with significant land bank and development potential across locations like New Gurugram, Gurugram, DLF City+, Metros (Pages 16, 23).

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Fundraising & Capital Structure

Net Debt as of Q2FY27 is Rs 18,420 crore with a Net Debt to EBITDA ratio of 3.1x and Net Debt to GAV of 18%.
Net debt has shown improvement from previous years: Net Debt to EBITDA decreased from 4.5x in FY23 to 3.0x in Q2FY27.
Net Debt level and credit ratings are stable at CRISIL AAA/Stable and ICRA AAA/Stable.
Operating cash flow after interest and tax was Rs 1,158 crore in Q2FY27, with Capex outflow of Rs 816 crore.
Dividend payout was Rs 629 crore in Q2FY27, resulting in a net deficit of Rs 288 crore after Capex and dividends.

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Order Book & Pipeline

The investor presentation reports the following regarding order book, order inflow, or pending orders: - **Sales Bookings (Order Inflow):** INR 3,800 crore in Q2FY27 (Page 5). - **Project Sales Booked:** Total of INR 87,471 crore across various projects (Page 15). - **Balance Revenue to be Recognized from Sales Booked:** INR 60,134 crore (Page 15). - **Balance Margins Yet to be Recognised:** INR 28,700 crore (Page 15).

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DLF — Quarterly revenue & net profit

Revenue Net profit

Jun 2025Q1 FY26

Sep 2025Q2 FY26

Dec 2025Q3 FY26

Mar 2026Q4 FY26

Jun 2026Q1 FY27

Sep 2026Q2 FY27

Reported quarterly figures (₹ Cr). Latest (Q2 FY27): revenue ₹1.3K Cr, net profit ₹1.3K Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.

Full financials →

What DLF's management said in earlier quarters

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Q2 FY27 Total Revenue: ₹10.17 bn (down 30.7% QoQ from Q1 FY27 ₹13.30 bn), real estate revenue ₹7.49 bn (down 32.3% QoQ). Key investor presentation takeaways fro
Veegaland Developers (Q2 FY27)
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Frequently Asked Questions

What were DLF Q2 FY27 results?

Q2FY27 Revenue from operations (DLF Limited consolidated): Rs 2,014 crore, up 11% YoY (Page 30) - Rental Income (DLF Limited consolidated): Rs 1,482 crore, 9% YoY growth (Page 5) - Sales Bookings: Rs EBITDA for Q2FY27: Rs 1,537 crore, up 9% YoY (Page 30) - Operating Margin (EBITDA margin) can be approximated from total revenue Rs 2,014 crore, giving about 76% EBITDA margin (1,537/2,014); explici

What is DLF share price analysis?

DLF currently shows a neutral. The stock trades at a P/E of 38.6 with a market cap of ₹165,970 Cr. Investors should review the full earnings analysis for detailed insights.

Is DLF planning capital expenditure?

The presentation details a robust launch pipeline in the development business: - Medium-term planned launches of ~24 msf area, with sales potential of ~Rs 58,230 crore (Page 12).

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This analysis is AI-generated based on publicly available earnings data and the company's investor presentation. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.